At Elite Prep Schools, College-Size Endowments Over $1 Billion!

Endowments at some independent schools have become so big that trustees have hired full-time money managers.Average expenditures per student for public schools, not adjusted for inflation. rose 28 percent, to $8,809, between the 1999 and 2004 fiscal years. Spending by boarding schools rose 24 percent, to $37,566, in the five years ending June 30th.

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